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CSPAN
Feb 7, 2013 5:00pm EST
have a deficit. here's a project that gets substantial tax revenue without raising taxes through economic activity, through job creation. further and perhaps most importantly, it will help put our country within striking range of a long-sought goal -- true energy security. for the first time in generations, the united states with its friend and ally canada will have the capacity to produce more energy than we use, reducing or eliminating our reliance on the middle east and other volatile parts of the world. the argument has been advanced that the oil sands will increase carbon emissions and that failing to build the keystone x.l. will somehow reduce emissions. but let's look at that claim. that's the other piece. let's look at the environmental aspects of this project. today, more than 80% of all new recovery in the oil sands is being accomplished in situ, a technology that makes oil sands carbon footprint comparable to conventional drilling. in fact, the oil sands industry has reduced greenhouse gas emissions per barrel of oil produced by an average of 26% since 1990, with some
CSPAN
Feb 6, 2013 9:00am EST
direction to help make life work for families. another step we can take is on taxes. there's a lot of talk about taxes in washington right now. for most families, tax preparation is hard and it is time-consuming. this time of year especially. think about it, think what they're going through. what tax from are you supposed to fill out, is a more beneficial to file jointly or as a married couple or separately? is a truck or gas mileage deductible or are you forgetting something that the irs gives credit for? in 1935, the form 1040 was a concrete but a to instruction booklet. today, taxpayers have got to wade through over 100 total pages of instructions. just filling out at w-4 at a new job is confusing. you really shouldn't need a worksheet to see how many dependents you have. chairman dave camp and his committee are already underway in their effort to responsibly rewrite the nation's tax law. as in education policy, health care and all else, tax reform should reflect the priority of working families, and the future their time to shape for the kids. if nothing else, we must stop putting spec
FOX Business
Feb 1, 2013 11:00pm EST
the income tax is 100 years old or it look at how much it has grown out. welcome, everyone, i and liz macdonald in for neil cavuto. as you're watching the super bowl, we are continuing to watch our tax rates skyrocket. income tax celebrating its 100 are they this saturday. it was 7% of first started. now, locale hiatus. it's about if we should raise the rates even more. dan mitchell on what rates america will be seen next 100 years. you know, here is the thing. basically we are seeing the income tax celebrating its 100 anniversary. back then, it was unconstitutional to have an income tax. what do you make of the direction the country is in with where they are right now? >> well, this is just an argument for euthanasia. i think 100 years is plenty long enough to have the income tax. what is really tragic is that we would not have the modern welfare state with all the economic damage it imposes if we had not given politician the ability to live levy a broad-based tax like the income tax. but as you point out, it is just going to get worse in the future because we have these out-
FOX Business
Feb 2, 2013 6:00am EST
linda has a comment on the end of the payroll. this is not an increase in taxes. people and employers have had a 2% break-in social security taxes for the last two years. this at a time when social security fund could not afford it. a financial gift to the already employed at the expense of social security. technically right, but in your bed you hated it. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. and you know what, two years in the making almost. the man behind the disasters solyndra alone is stepping down. energy secretary steven chu offering his resignation today. he was highly criticized for its handling of the $528 million loan to the solar panel maker, which later went bankrupt. despite the blunder he is leaving with obama's support and his pride intact. he said, came with streams and leaving with a set of accomplishments that we should all be proud of. not all of his dreams came true. back in 2008 he famously said we as a nation needed to boost gas prices to levels -- levels seen in europe. although he eventually walked back those comments,
FOX Business
Feb 4, 2013 6:00pm EST
. tonight on "the willis report" wall street loves california's huge tax increase, but is it already backfiring? also, it started as a few hundred pages. now it is 70,000. tonight, the federal income tax on its 100th birthday. and what does the death of investment club tell us about the overall health of the market? "the willis report" is on the case. ♪ gerri: all that and more coming up. first, the fix that will only create more problems. democrats, once again, pushing for more tax revenue and putting a tighter squeeze on all of us. to get the u.s. out of the financial black hole, but washington only needs to look across the country to california to see how this will play out. with more on this, michael reagan, founder of the rating group. welcome back to the show. great to have you here. i need to get you to comment on to harry reid. this weekend talking about more taxes. he says, the american people are on his side. here he is. >> the american people don't believe in this bustier things. we believe that the rich should contribute. we believe we should fill those tax loopholes, g
FOX News
Feb 2, 2013 8:30am PST
is taxed or borrowed and it is taxed from we the people. government spending is destructive to the economy. whether it is it discretioninary or not it needs to change now. >> it doesn't matter if it is. feven even if it is it a million bucks here and there. and eric it is worse than that. up said millions and millions, we are in the trillions. it is it an express of 3 trillion . a third of that is it being borrowed. we are spending way out of control and here is a bar chart. i don't know if you can see this right here. the dark part here is it what we are borrowing each year. that is a third of the amount much money . it is it outrageous and they can cut it in every place and they don't do it. >> you can stee the crazy thingings we are spending our money on. chinese swine study. 141,000. let's lookalt the next one. jordanian hooka habitings whampt is that? and reality tv show in india we spend 20 million and amtrak food beverages. 84 million. cram cramcongressman, we have a spending problem. ntake the labor department. you would think that that is one department that is responsible for tra
FOX Business
Feb 5, 2013 8:00pm EST
even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75 year time frame we talk about budgets. the american people need to know that. it is important the president gets mad because then we could talk about the positive solutions a
FOX Business
Feb 4, 2013 9:20am EST
. the president and senator reid old want more revenue beating one way or another, more taxes. and yes, the dow is turning away from backing off from 14,000. here we go, everyone. "varney & co." is about to begin. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. stuart: we are going to call this a news alert. senator harry reid calling for more tax increases. in an interview on abc yesterday, he said tax revenue must be part of any deal to be part of the little defense cuts. here is senator reid. >> the american people are on our side, and america p
CNBC
Jan 31, 2013 7:00pm EST
, larry, and you can't tax an economy in the prosperity period. >> look, ideally you would say okay, we're going to freeze government spending at this level and that would mean over time it is going to fall as a percentage of the economy, but you can't ever get congress to do that, right? so it always ends up being something very harsh to get things done. and so this is the consequence that you have to face. at least in the short term. that you're going to have a short-term hit to gdp. but in the long run, the numbers are going to be better for the united states. >> most of that stuff is transfer payments. >> agreed. >> it will not even affect gdp. defense purchases do affect gdp. but to america since nobody ever wants to cut spending -- >> you got to cut somewhere. >> and i would do it right now. >> and it will only happen during bad times, larry. it will never happen during good times. we see that over and over again, when the economy is going gang busters, the government just chooses to spend more. it's in its nature. you have to do it when it's tough. >> lower spending means a stron
CSPAN
Feb 6, 2013 12:00pm EST
perceptions of the sales tax or consumption taxes it will be easy to a minister. there is a role for the tax collector, and if you look at any state law you will see the car phone of exemptions, and they are as complex as some of those tax preferences we have in our code. discipline will be required on a consumption tax just as it would for an income-tax. ♪ a little bit. and that is the nature of accounting systems and how they influenced the development of tax policy. if i go all the way back to the history of conversion from a tariff to an income tax, what really makes this possible is the growth of the modern corporation or the modern business because they develop the accounting system, keep track of who has wages and for them to operate efficiently and need to keep track of it. that is the financial accounting that acquires them to keep track of income, and the government that is able to latch on to these accounting systems and really rely upon them to enforce code. in truth it is the large business, large charity, larger organization that is the main instrument for impleme
CNBC
Feb 6, 2013 7:00pm EST
tax rates anyway by nearly 25%. what it triggered was falling inflation, falling interest rates and the strongest economic expansion in 30 years. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ >>> global stock market still on a tear. did you know almost 20 world indexes traded at new multi year highs this year already? did you know japan, the hottest of the hot up 3.8% just today? cnbc's seema mody joins us. >> we have seen a revival in global equities. better than expected earnings. easy money from the fed and decent economic data brought fresh money to equitieequities. the s&p 500 and nasdaq trade at new highs. the ral d
CNBC
Feb 5, 2013 7:00pm EST
delay in those spending cuts. and he calls for another tax increase. now it's up to republicans to respond. remember, spending cut sequester goes into effect in 24 days on march 1st. the sequester by the way was originally the president's idea. let's get right to what the president said. john harwood joins us thousanow all the details. >> as you know, there are two ways to go about deficit reduction under the sequester law passed in 2011. one is the full ten year sequester. that's $1.2 trillion in budget cuts over ten years. the other is to do it piece meal. if do you it just for the rest of of the year, it would just be $85 billion. president obama said if congress can't agree with the full pack annual by march 1st, we need to do something smaller in the name of staving off damage to the economy, to consumer, and to federal workers. here's the president. >> if congress can't act immediately on a bigger package, about they can't get a bigger package done by the time the sequester is scheduled fto go into effect, then i believe they should at least pass a smaller package of spend
CNBC
Feb 5, 2013 4:00pm EST
tax revenues in order to help the deficit. we'll have a conversation with represent dave camp coming up later in the program. stay with us. m charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that
FOX Business
Feb 6, 2013 6:00pm EST
these tax. the courts have validated that businesses have the responsibility to protect against these types of attacks. gerri: at my bank does not protect me and should be their fault. answer, who are these people doing this? >> obviously we have these other governments, the chinese government that we believe is going -- for example, the new york times, trying to find out who the sources that the reporters used to write about the dissidents in china. it wanted to get at them and learn. that is one. gerri: not on to the three best thing. >> the other side is the internet additives that are all over the place angry about civil liberties and angry. an internet activists who was under investigation by the u.s. government. he had other problems, credits suicide in january which anchored -- the fact committed suicide was sad, but anonymous was angry at the way the government went after them. gerri: and that is actually what is behind this attack. to you. anonymous, these fellows are angry, they don't like the way things are going. another trying to get a personal information. what do you make of
FOX Business
Feb 6, 2013 9:00pm EST
in their nation's roads and bridges not up to snuff. he will be paying the price in the form of the taxes. i will break it down coming up. ♪ officemax is celebrating our new collaboration with go daddy! with an online package including: domain name, website builder with five pages and basic email just $49.99! that's up to 76 percent below online providers and only at officemax stores! did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. ♪ >> from our fox business studios in new york, here again is gerri willis. ♪ gerri: just after the election a handful of states filed petitions to try to secede from the union. while the chances of that happening are slim to none, virginia, looking to break ties with the federal monetary system , the state house recently approving a study to determine whether the state should adopt its own currency because the fears of the dollar. the bill would spend $20,000 on a steady calling fo
FOX Business
Feb 5, 2013 9:20am EST
everybody's wallet just as taxes go up on every paycheck. plus, the economy is shrinking, unemployment is rising and the president calls forever higher taxes. a gas spike could not come at a worse time. $2900 per family. this is what happens when bernanke pushes down the value of the dollar. off goes oil and off goes gas. this is the inflation that everyone sees and everyone feels. varney & company about to begin. did yoknow not all fiber is the same? citrucel is different- it's the only fiber for regularityhat won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. stuart: breaking news from dell, as expected. the company is going private. the stock is up 30% this year. it is a done deal. i have a whole raft of tax stories for you. first item, the feds propose to legalize marijuana and establish new pot tax. that would bring in an estimated $20 billion a year. passage of the law a longshot at best. today congressman eric cantor will give a speech on just how expensive it is to raise a family and how higher taxes will
FOX Business
Feb 1, 2013 9:00pm EST
was not paid by pastor. mandatory tips. stay with us. ♪ officemax knows... ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. ♪ gerri: all right. tonight we're breaking down one of the most talked-about job firings of the week. a waitress at apple bees getting the boot for posting a picture of a receipt that was left by a pastor slamming the automatic gratuity added to his bill. the st. louis pastor scratched out the automatic 18 percent tip, wrote zero where the additional tip would be and wrote, i'm giving guide 10%, why should i give you 18? joining me now, managing partner . fox news legal analyst. i'm starting with you. should the witness have been fired? >> absolutely not. she thought it was funny, b
CSPAN
Feb 7, 2013 1:00am EST
that cuts defense spending once again. it has $500 billion in new taxes and also cuts in domestic spending. it is irresponsible, unacceptable. it leaves their troops and our economy and ready to face the challenges of the future. or the threats of today. when i went to the steering committee to apply for this job, i explained to them the way i saw the jobless to make sure that our troops, those who we sent into harm's way would have everything they needed to carry out their missions and return home safely. everything in the way resources, training, leadership, these things are very important. and i look at what is happening with these cuts that we have seen the last couple of years and it is just irresponsible that the commander in chief, his main job should be the same that i look at as my job, only he should be looking out for the soldiers, sailors, airmen and marines that he sent into harm's way. he should not send them with anything less than the told that -- the total they need. and to be stepping up and continuing to cut -- i visited with their top leaders, and they have told me that
FOX Business
Feb 4, 2013 8:00pm EST
stop asking for more taxes? s revenue push reving up again. >> up next, he was member of white house top jobs council. robert wolf is here. charles: millions out of work and more asking where the jobs. roberts wolf served on the job's council, he is here right now, thank you for joining us, bob. >> thank you. charles: the jobs council. what happened? listen, you know this cynical side, you know you about the fact of the matter is, it felt like 5 official big meetings, not a lot came out of it, no meeting in the last year, was this just a mirage? >> i disagree, thank you for having me oit was a two yore a year charter, let's talk about what was done, first year was a lot of work together to figgre out ideas ts to the u.s. more of whn , we came up with better ideas with better building, and small, usa initiative. travel and tourism initiative. the second year was about execution, which we're executing, the proof is working there are wins from this. charles: but, okay okay, now. realistically as a businessman, a lot of things you tick off seems they came from obama wish book. was this c
FOX Business
Feb 4, 2013 11:00pm EST
. >> thank you so much. >> coming up, did you think that democrats would stop asking for more taxes? s revenue push reving up again. >> up next, he was member of white house top jobs council. robert wolf is here. officemax is celebrating our new collaboration with go daddy! with an online pacge including: domain name, website builder with five pages and basic email just $49.99! that's up to 76 percent below online providers and only at officemax stores! we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. charles: millions out of work and more asking where the jobs. roberts wolf served on the job's co
SFGTV2
Feb 5, 2013 10:00am PST
by the state was a potential death now for the housing and our taxes stopped the growth of our economy. we in this room and many of us working together took on the story changes for our city some of which have vexed for years >> years. i'm proud that together we through innovation and we foerjd our way ahead. to the city commissioners and to the department heads and to our friends in the business, labor you think non-profit and other communities who spent countless hours with us in negotiations and to the great people of san francisco who rewarded us with your support at ballet in san francisco thank you, very much. together we're putting san francisco back on the right track and building a solid foundation for all our residents. my fellow san francisco's we're living in a time of astonishing innovation and unlimited process we're driving that innovation and for or against the future right here right now not just for san francisco but for the whole world. within the lab of our technologies we're developing techniques will will save lives. to our market district we're providing the world w
CNBC
Feb 4, 2013 6:00am EST
away from its all-time high and a taxing debate in washington. president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in
FOX News
Feb 4, 2013 6:00am EST
body was buried there. >>steve: straight head, he vowed not to raise taxes and his state is thriving. now louisiana governor jindal says he wants to share his tips with our present. brian's exclusive interview with that man interview with that man next. [ woman ] ring. ring. progresso. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. fox our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] life brings obstacles. usaa brings retirement advice. call or visit us online. we're ready to help. learn more with our free usaa retirement guide. call 877-242-usaa. it's not what you think. it's a phoenix with 4 wheels. it's a hawk with night vision goggles. it's marching to the beat of a different drum. and where beauty meets bra
FOX Business
Feb 1, 2013 6:00pm EST
. a lot more to come including every look at a -- elected ridiculous tax bill. is the world's second-biggest company paying their share? and a ridiculous debate over a waitress showing a recede saying a tape was not paid by pastor. mandatory tips. stay with us. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captur. is connecting today's leading companies to places beyond it. siemens. answe. ♪ gerri: all right. tonight we're breaking down one of the most talked-about job firings of the week. a waitress at apple bees getting the boot for posting a picture of a receipt that was left by a pastor slamming the automatic gratuity added to his bill. the st. louis pastor scratched out the automatic 18 percent tip, wrote zero where the additional tip would be and wrote, i'm giving guide 10%, why should i give you 18? joining me now, managing partner . fox news legal analyst. i'm sta
FOX Business
Feb 4, 2013 11:00am EST
wants more "revenue." >> and looking to expand it. >> republicans would have been blamed for any tax increase on the middle class. >> the end result being he takes more money off of wealthy people. >> it slows us down gradually. >> many can say texas don't matter. of course they will in the long run. stuart: here we come. what a perfect moment to throw it to dagen and connell. connell: good morning, everyone. dagen: america is a good bet. here to tell you why. connell: one of our guests in this hour could be the next energy secretary. dagen: more on the power outage and the record-breaking at cbs sports for that incredible game. connell: and cyber attacks, the white house considering action against china. dagen: i had the ravens, did you? by a field goal, 27-24. connell: nobody knows football like dagen mcdowell. clearly. dagen: stocks now has to do every 15 minutes, nicole petallides at the new york stock exchange. nicole: a good bet going. if yo you're betting on the mar, 14,000 mark a little disappointed today, we are pulling back, dow jones industrials down 116 points right now.
FOX Business
Feb 4, 2013 1:00pm EST
$84. they talked about payroll tax increases. it is in a more competitive environment. the easy way for walmart is over. a little bit of a pullback is expected. back to you. melissa: thank you so much. a big month in january. we get to the bottom line with elizabeth macdonald. why is this? >> you have been talking about that great rotation. we have not seen a start like this in 15 years. in the month of january alone. it surpasses what happened all of last year combined for all four quarters. the bears have left the building. the s&p forward earnings that we are looking at are still cheap versus the october 27 peak. the s&p 500 was trading at 13. if it hits 14, then you are talking s&p 1600. if it hits 16, you are talking s&p 1700. are we setting up a classic bear trap? that stock has gotten ahead of the economic recovery. we are seeing the togo war on whether or not we will have a downdraft by end of year. melissa: who is winning? >> though bulls are winning for now. if there is a pullback there, you could be in a downdraft air up. melissa: thank you so much. lori: this has been th
CSPAN
Feb 8, 2013 2:00pm EST
." -- please tax me more." we have gotten so desperate in this area that we are talking about, perhaps because we cannot make a policy decision on this and have not since the early 1990's on the federal level, maybe we need to go to indexing of the fuel tax. >> you are talking like infrastructure, not to pay for subsidies, right? >> what we need is more infrastructure, and that is a public good, and it needs to be paid for, and generally with tax revenues. i do not think anybody is faulting that. i think it is sold that we need higher fuel tax, and we can use that either to reduce the deficit or to pay for something else. it was designed -- or intended -- whether it has done so successfully or not, it was done to pay for infrastructure. >> absolutely. we are not real happy about that. >> john, what are you hoping for next week? >> for some reason, i have not been consulted on that. the president in the campaign said he was 4 and all of the above energy policy, so let's have some announcements that support that -- he was for an " all of the above" energy policy. let's move forward with the thin
CNBC
Feb 1, 2013 7:00pm EST
side path right now, i dare say if washington doesn't bomb us with a mega ton of taxes on investment we should be okay. nothing's ever perfect. and corrections are going to come and go. but all this, i see the stock market running up for a good while. now, let's get some advice on how to play it or disagree with it. go to our distinguished panel. ryan kelly, co-founder of shelter harbor capital. jim iuorio, director at tjm institutional services, and cnbc contributor jim pethokoukis. i want to go to b.k., brian kelly first. do you buy the rally continuing? how do you play this? what do you do right now? this is almost like a technical portfolio manager's question. >> yeah. i think probably the best thing you do right now is you take profits on a tremendous run that we've had since january 1st. if you want to actually still capture some of that up side, you can use options so you control your down side. i mean, if you just kind of look at any market, as you said, we're going to get some pullbacks here. what scares me is at bottoms everything looks awful and at tops everything looks fanta
FOX News
Feb 4, 2013 11:00pm PST
will get back to you if there are more details. the fbi is promising that in the next few hours. >> tax hike to high income earners. he may be going to the well again. the president insists he needs more money to reduce the deficit and will likely focus on a familiar target. white house correspondent wendell goaler tells us how that is going over. >> as the president headed to minnesota to talk about gun violence, republicans on capitol hill tried to keep the nation's attention on fiscal matters. >> we are having trouble in large part because spending is a problem. it is what is chasing jobs overseas and causing much anxiety about our future. >> sunday in a presuper bowl interview with cbs's scott kelly mr. obama said this year's tax changes shouldn't be the last. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down the deficit. he is not talking raising rates but closing loopholes especially those making money from investment pay a lower tax rate than income salaried or hourly wage earn ers. >> the average person doesn't have acc
CNBC
Feb 8, 2013 4:00am EST
currently have to pay 50% tax, yes, on their appearance and up to 10% of their worldwide earnings following a legal victory. other sporting events, including the dhampon's league final and the olympics have also had amnesty written into their contract. if you ever wonder why your favorite athlete may not be showing up to your favorite british competition, maybe now you have an answer. >> he raced here for the olympics and i don't think he's raced here in the previous three years. >> because look, it's not just a one off winnings related to that event, but all of a sudden your annual earnings are subject to this tax? >> it's an annual appearance fee. >> it's a pretty big incentive for athletes to say, you know what? not worth it. >> we're asking do you think it's fair for athletes to be given special tax breaks? is usain worth it? e-mail us, tweet us. >> is usain bolt worth it? >> do you want to go there? do you think it's -- do you think this event is worth it, by the way, to try to do the anniversary of the olympics to remind people and keep the positive buzz going? >> yeah. it draw tess c
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